Aviation
Delta Airline posts $1.2bn profit
NEW YORK – Delta Airlines, United States second largest carrier which also operates daily flights between Atlanta and Lagos, said during the week that its net profit for the September 2013 quarter was $1.2 billion, or $1.41 per diluted share, excluding special items.
The airline says the result is a $444 million improvement year-over-year.
According to a report released by the airline, including $157 million in special items, Delta’s GAAP net income was $1.4 billion, or $1.59 per diluted share.
The company began returning capital to shareholders, with $100 million in share repurchases and $51 million in dividend payments.
September quarter results include $249 million of profit sharing expense in recognition of Delta employees’ contributions to the company’s financial performance.
“Delta generated $1.2 billion of operating cash flow and $627 million of free cash flow in the September 2013 quarter, and ended the period with adjusted net debt of $9.9 billion.
“Delta’s outstanding financial results, operational performance and customer service this quarter reflect the hard work of 80,000 Delta employees worldwide, these results reflect the progress we’ve made over the last five years, and we have even more exciting opportunities ahead of us as we build a better airline for our customers, employees and investors”, Richard Anderson, Delta’s chief executive officer said.
He said Delta’s operating revenue improved $567 million in the September 2013 quarter compared to the September 2012 quarter. Traffic increased 2.1 percent on a 2.6 percent increase in capacity.
Passenger revenue increased 6.7 percent, or $581 million, compared to the prior year period. Also, passenger unit revenue (PRASM) increased 4.0 percent year over year with a 4.5 percent improvement in yield.
He added that Cargo revenue decreased 6.1 percent ($15 million), on declining freight yields adding that other revenue was flat year over year as growth in Delta’s third-party staffing business revenues offset a decline in third-party maintenance revenues.
“The momentum we have built by running an outstanding operation and investing in our product and people enabled a 7 percent revenue growth, with particularly strong performance in Atlanta, New York and London, the revenue environment appears solid through the end of the year, including strong holiday bookings, and we expect to continue to build on the revenue premium we deliver versus the industry”, Ed Bastian, Delta’s president.
– BUSINESS DAY
An Abuja-Accra flight experienced technical difficulties mid-air on Friday, forcing it to return to Abuja, shortly after departure.
The Nigerian Safety Investigation Board (NSIB) made the disclosure in a statement, adding that it has launched investigation into what it described as a serious accident.
Director, Public Affairs and Family Assistance, NSIB, Bimbo Olawumi Oladeji stated that preliminary investigations revealed the aircraft experienced an engine number two indication issue.
ALSO READ: BREAKING: Kyari Oversees NNPC Ltd’s Transparent Recruitment Aptitude Test
It was gathered that the aircraft, with registration number 5NKAL which was operating a flight from the Nnamdi Azikiwe Airport, Abuja (DNAA), to Kotoka International Airport, Accra (DGAA).
She explained that four persons were onboard when the incident occurred. The crew immediately requested for a diversion back to Abuja due to the engine indication.
Oladeji added that the crew managed to safely land the aircraft at Abuja Airport at 18:16 UTC.
There were no injuries reported, and all individuals on board are safe.
Nigeria has acquired 12 pre-owned Alpha Jets from the French Air Force as part of efforts to enhance the operational capacity of the Nigerian Air Force (NAF).
The deal, facilitated through SOFEMA, a French military and aeronautics company, was announced by Olusegun Dada, Special Assistant to President Bola Tinubu on via X on Thursday.
He said, “All the 12 aircraft are ready for shipping.”
The Alpha Jet, a product of Franco-German collaboration, is a versatile military aircraft designed for light attack and advanced training missions.
READ MORE: JUST IN: FG Battles Against Seizure Of Presidential Jets In France
Equipped to carry bombs, rockets, and missiles, the aircraft also features a gun pod for close air support.
The NAF already operates 11 Alpha Jets, but this latest procurement signals a significant boost to its fleet.
Dada also confirmed that the Air Force is expecting 24 M-346FA light attack aircraft, ordered during the administration of former President Muhammadu Buhari.
The first batch of these Italian-made aircraft is expected to arrive early next year.
Air Chief Marshal Hasan Abubakar, the Chief of Air Staff, described the acquisitions as a testament to President Tinubu’s commitment to bolstering the armed forces.
“This renewal of our aircraft fleet reflects the government’s commitment to ensuring the safety and security of Nigerians,” Abubakar said.
The announcement comes on the heels of President Tinubu’s three-day state visit to France, where he met with French President Emmanuel Macron.
The visit, which took place from November 27 to November 30, highlighted deepening ties between the two nations.
To ensure the sustainability of its expanding fleet, the Air Force has proposed establishing a local maintenance hub.
Speaking in October, Abubakar noted that six units of the M-346FA aircraft were already in production, with the initial batch of three expected to be delivered in early 2025. The full fleet is projected to arrive by 2026.
“These developments underscore the importance of creating a domestic support system for the long-term upkeep of our aircraft,” Abubakar added.
As the holiday season draws near, Aero Contractors has introduced a minimum ticket price of N80,000 for all local flights.
The move, which will last until January 2024, aims to ease the financial burden on Nigerians amid the high cost of living.
Ado Sanusi, Managing Director of Aero Contractors, made the announcement on Tuesday during a press briefing, describing the fare reduction as a gesture to help Nigerians celebrate Christmas and the New Year without the stress of steep ticket prices.
READ MORE: Bobrisky Defends Egungun of Lagos Amid Viral Video Scandal
Sanusi said, “We understand the economic hardship Nigerians are facing, especially with high ticket prices, and we know the holiday season is nearby.
“In the spirit of Christmas, Aero Contractors has introduced what we call pocket-friendly Christmas prices. These fares, starting at N80,000, will apply to all our destinations, allowing Nigerians to travel without excessive costs.”
As of Tuesday afternoon, an economy class ticket from Lagos to Abuja was priced at N99,643, while business class tickets were being sold for N189,167.
Sanusi further explained that the initiative was designed to make it easier for families to reunite during the holidays.
“This is a way for us, as an organization with a long history of serving Nigerians, to give back to our loyal customers. We want to make it possible for families to meet their loved ones during this festive season without worrying about exorbitant travel costs,” he added.
53 Convicts Benefit From Adeleke’s Prerogative Of Mercy
Ghana To Grant Visa-Free Entry To All African Nationals
Christmas: Shettima Assures Of FG’s Commitment To Citizens’ Welfare
Obi’s Inspiring Christmas Message Of Hope For Women’s Football
Yuletide: Adeleke Rejoices With Christians
Archbishop Martins Champions Clamour For Better Life For Nigerians
OSSG Raises Alarm Over Murder Plot By APC Chieftain
NCC, SMEDAN, NAICOM, SEC, Others Set for SUPERNEWS SMEs Conf June 13
Sahara’s Tonye Cole resigns from GPHCDA
Niger Delta Avengers: President Buhari Reads riot Act …considers the carrot and stick option
Oando opens ultra-modern petrol station in Lagos
